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Know your competition. They can help you, bury you, or may be your best exit strategy.
Complementary Products
Show that you have searched out all those companies who offer competitive or related products. Define those who offer complementary products in the same or similar industries. Explain how competitive relationships can be turned into joint ventures, strategic partnerships, buyouts, acquisitions, etc. in the future. Lenders or Investors take comfort in the fact that you have defined possible exit solutions if things don't go as planned.
Who are your three major competitors?
| Competitor #1 |
__________________________________________________ |
| Address 1 |
__________________________________________________ |
| Address 2 |
__________________________________________________ |
| Years in Business |
___________ |
| Market Share |
___________ |
| Price/Strategy |
___________ |
| Product/Service |
___________ |
| Convenience |
___________ |
| Advantages/Disadvantages: |
__________________________________________________ |
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__________________________________________________ |
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__________________________________________________ |
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